百利好丨金价持续走高，现在还能买吗？

Core Viewpoint - The spot gold price has surged, breaking the historical high of $4550.520 per ounce set on December 29, 2025, and reaching $4550.880 per ounce, reflecting a 0.93% increase [1] Group 1: Market Performance - The domestic gold jewelry market has also seen an increase, with prices for Lao Miao Gold and Chow Sang Sang rising to 1429 CNY per gram, up by 22 CNY and 19 CNY respectively [1] - As of the end of December 2025, China's gold reserves reached 74.15 million ounces (approximately 2306.323 tons), with a month-on-month increase of 30,000 ounces (approximately 0.93 tons), marking 14 consecutive months of accumulation [3] Group 2: Future Outlook - The World Gold Council reports that gold has performed strongly in 2025, with prices expected to rise by 15%-30% in 2026, driven by investment demand, particularly in gold ETFs, which will offset weak demand from the jewelry and technology sectors [3] - The Federal Reserve's interest rate cuts, aimed at normalizing monetary policy amid easing core inflation, are expected to support metal prices, particularly precious metals and copper [5] - The outlook for 2026 indicates a high certainty of gold price increases, driven by expectations of U.S. monetary and fiscal easing, with a model predicting international gold prices could exceed $5100 per ounce by the end of 2026 [5] - The current gold market is in a favorable environment due to the resonance of policy and capital, with short-term fluctuations not altering the long-term upward trend [5]